Generation Z and Financial Literacy: A Comparative Analysis of Generational Competencies

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dc.contributor.authorMucskova, Monika
dc.contributor.authorMicak, Peter
dc.contributor.authorNemecek, Karel
dc.contributor.otherEkonomická fakultacs
dc.date.accessioned2025-10-02T10:24:24Z
dc.date.available2025-10-02T10:24:24Z
dc.description.abstractThis paper examines generational differences in financial literacy and their competencies in the Czech Republic, with a focus on Generation Z. Financial literacy is assessed across three components: financial knowledge, financial behaviour, and an overall financial literacy score. This analysis includes four generations: Generation Z, Millennials, Generation X, and Baby Boomers, based on 984 Czech respondents. Results show that Generation Z scores significantly lower in financial knowledge and overall financial literacy compared to Generation X and Baby Boomers. However, no statistically significant difference is found between Generation Z and Millennials, indicating similar levels of financial literacy between these younger generations. Interestingly, no significant generational differences were observed in financial behaviour. This might suggest that while Generation Z lacks theoretical financial knowledge, they engage in financial behaviours comparable to older groups of the population. These findings point to a shift in how financial knowledge is acquired among younger generations. As digital natives, Generation Z often relies on informal online sources such as social media and “finfluencers”, which may offer practical tips but lack depth and reliability. Although fintech tools may help support good financial habits, the knowledge gap remains a concern. Given the growing financial autonomy of this generation, this paper highlights the need for better financial literacy to ensure informed decision-making and long-term economic stability.en
dc.formattext
dc.identifier.doi10.15240/tul/009/lef-2025-12
dc.identifier.isbn978-80-7494-747-6
dc.identifier.urihttps://dspace.tul.cz/handle/15240/178034
dc.language.isoen
dc.publisherTechnická Univerzita v Libercics
dc.publisherTechnical university of Liberec, Czech Republicen
dc.publisher.abbreviationTUL
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dc.relation.ispartofLiberecké ekonomické fórum 2025cs
dc.relation.ispartofLiberec Economic Forum 2025en
dc.subjectFinancial Knowledgeen
dc.subjectFinancial Behaviouren
dc.subjectFinancial Literacyen
dc.subjectGeneration Zen
dc.subjectMillennialsen
dc.subjectGeneration Xen
dc.subjectBaby Boomersen
dc.subject.classificationD14
dc.subject.classificationJ10
dc.titleGeneration Z and Financial Literacy: A Comparative Analysis of Generational Competenciesen
dc.typeproceeding paperen
local.accessopen
local.citation.epage160
local.citation.spage149
local.facultyFaculty of Economics
local.fulltextyes
local.relation.abbreviationLEFcs
local.relation.abbreviationLEFen
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